Internet sales in November at The Sharper Image Corp. were down 29% to $8.5 million from $11.9 million in November 2005, the company reported today. Total November sales were down 27% to $46.8 million from $64.5 million a year earlier. Store sales dropped 26% to $30 million from $40.3 million in the prior November, and comparable store sales dropped 27%.
Year to date, Internet sales for the ten months were $55.8 million compared to $70.9 million, a decrease of 21%. Company sales totaled $359.4 million, a 22% decrease from $459.2 million. Store sale for the ten months totaled $206.5 million, a 26% decrease from $277.4 million the prior year, and comparable store sales dropped 27%.
Plagued by declining results, Sharper Image, No. 87 in the Internet Retailer Top 500 Guide to Retail Web Sites, has sustained the departure in recent weeks of top executives. Six weeks after the departure of founder, chairman and CEO Richard Thalheimer, Tracy Wan, president and chief operating officer, and Jeff Forgan, executive vice president and chief financial officer, resigned in early November.
The company has said the position of president and COO is being eliminated, with the duties being assumed by interim CEO Jerry W. Levin, who was appointed Sept. 26. The board is searching for a permanent CEO with strong leadership skills, merchandising experienced and a history of business success.
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